5 Ways To Make Money From Serviced Accommodation

What is serviced accommodation?

Serviced accommodations are completely furnished homes with hotel-like amenities that may be rented for both short- and long-term periods of time. Owners typically rent out serviced residences on a night-by-night basis to tourists or working professionals. A serviced accommodation example would be an Airbnb.

Why is serviced accommodation so popular?

Over the years, serviced accommodation has become increasingly popular for people getting started in property. Some of the benefits of choosing serviced accommodation as a strategy is that they are:

• More spacious
• More private
• More affordable

Offer valuable ad-ons

A good way to make a good first impression on your guests is to offer valuable additional services such as a care package on arrival, memorable gift, free airport shuttle or transport, champagne, wine, flowers, etc.

Have 24hr support

You never know what emergencies are going to happen so make sure that you always have someone available.

Monitor your reviews

Reviews are essential for guests staying at Airbnb’s, so make sure that you monitor your reviews closely. Most Airbnb’s are based closely on positive reviews so try to aim for a score for 4.5 or 5 stars.

Follow up with your guests

Some good ways to follow up with guests would be to ask them how their stay was, offer a discount or voucher, give them a good positive review on their profile, or ask them to leave a review. The aim is to continue to provide a valuable guest experience form the beginning to the end so they’re more inclined to stay again or refer your property to a friend/family.

Choose a safe/popular location for your Airbnb

Ensuring that your Airbnb is in a safe and popular location is essential before putting it out there. To do this, you want to make sure that you research the area in depth and have a clear understanding of your target audience. Examples of a good location include:

• Attractions such as theme parks, beaches, amusements, etc
• Places to eat such as restaurants, bars, cafes, etc
• Amenities such as shops

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